1. What are the total variable operating expenses for March?
2. What are the total fixed expenses for February?
3. What are the total operating expenses for the quarter?
4. What is the total cost of goods sold from the income statement for the quarter ended March 31?
5. What is the operating income from the income statement (round to nearest penny)?
6. What is the net income from the income statement (round to nearest penny)?
7. How much cash is collected (on cash sales and credit sales) in January?
8. How much cash is collected (on cash sales and credit sales) for the quarter?
9. What are the cash payments in January on purchases made in December?
10. What are the cash payments for operating expenses in February?
11. What are the total cash payments for the quarter?
12. What is the ending cash balance before financing for January?
13. What is the ending cash balance before financing for February?
14. What is the ending cash balance before financing for March?
15. Does High End Crockery Corp ever need to borrow money to meet their minimum cash balance requirement?

Wayne's Boutique Haberdashery Tax expense $3.300 per month (paid in cash monthly Budgeted selling price $80 Sales Breakdown Cash Credit 25% of total monthly sales 75% of total monthly sales Unit Sales December January February March April 4.000 3.600 2.900 2.400 3.200 2.400 Cash Collections Month of sale Month After Sale Never collected 4096 55% 56 May Cash payments for materials In month of purchase In month after purchase Desired Ending Finished Goods Inventory 60M 401 14% of next month's sales Beginning cash balance $80,000 Yards of fabric needed per hat Price per yard of fabric 3 $5.00 Minimum required cash balance $110,000 20% of next month's production needs Desired Ending Direct Materials Inventory December purchases of Direct Materials $38.556 Direct labor hours per hat Direct labor cost per hour $22.00 Variable O manufacturing rate Fixed manufacturing OH $2.50 per direct labor hour $2.948 per month (paid in cash monthly) Average MOH cost per unit You will be able to calculate when you have cakulated total MOH Hint: add the three product costs together Average COGS per unit Variable operating expenses per unit $6.00 (paid in cash monthly Fixed Operating Expenses Salaries Studio Rent Depreciation $3.400 per month(paid in cash monthly) $4.800 per month (paid in cash monthly) $1.500 per month Interest expense $2.400 per month (pald in cash monthly) Wayne's Boutique Haberdashery Tax expense $3.300 per month (paid in cash monthly Budgeted selling price $80 Sales Breakdown Cash Credit 25% of total monthly sales 75% of total monthly sales Unit Sales December January February March April 4.000 3.600 2.900 2.400 3.200 2.400 Cash Collections Month of sale Month After Sale Never collected 4096 55% 56 May Cash payments for materials In month of purchase In month after purchase Desired Ending Finished Goods Inventory 60M 401 14% of next month's sales Beginning cash balance $80,000 Yards of fabric needed per hat Price per yard of fabric 3 $5.00 Minimum required cash balance $110,000 20% of next month's production needs Desired Ending Direct Materials Inventory December purchases of Direct Materials $38.556 Direct labor hours per hat Direct labor cost per hour $22.00 Variable O manufacturing rate Fixed manufacturing OH $2.50 per direct labor hour $2.948 per month (paid in cash monthly) Average MOH cost per unit You will be able to calculate when you have cakulated total MOH Hint: add the three product costs together Average COGS per unit Variable operating expenses per unit $6.00 (paid in cash monthly Fixed Operating Expenses Salaries Studio Rent Depreciation $3.400 per month(paid in cash monthly) $4.800 per month (paid in cash monthly) $1.500 per month Interest expense $2.400 per month (pald in cash monthly)